Manheim’s drive to make a difference in its locations’ communities has yielded record-breaking results. The auction company said its annual back-to-school campaign to benefit Boys & Girls Clubs of America raised a record $236,022 in 2023. Funds will remain in the markets where they were raised to help provide local young people with the tools […] [Read More]

Murgado Automotive Group has expanded into Virginia with the acquisition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian from Rod McGeorge. The dealerships are Murgado Automotive’s first in Virginia, joining franchises in Florida, Illinois and New Jersey. The group now operates a total of 26 dealerships. “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian have been […] [Read More]

Dent Wizard International, the largest provider of vehicle reconditioning services in North America, has added Adam Nebeker as chief operating officer. Nebeker most recently served as senior vice president of field operations for Vivint Smart Home, a provider of security systems and services for homes and businesses, and as vice president of operations for Cummins, […] [Read More]

One Guard Inspections, a Repair OnDemand company, has introduced a post-sale inspection, tailored specifically for online auctions. The company said the new service “redefines” how online auctions verify vehicle condition after the sale. Repair OnDemand chief sales officer Greg Lubrani called the post-sale inspection “a game-changer for the online auction industry.” “Physical auctions have conducted […] [Read More]

High vehicle prices and interest rates are delivering an economic one-two punch that is being felt throughout the used-vehicle ecosystem. Think consumer financing and monthly payments, dealership inventory and certified used vehicles, and residuals and repossessions. And they’re bound to be among the major discussion points during Used Car Week, set for Nov. 6-9 in Scottsdale, Ariz. In September, Cox Automotive released data showing that inflation and affordability concerns were the five top reasons consumers who said they ... [Read More]

With about 25,000 factory workers who assemble vehicles for Ford, General Motors and Stellantis on strike and oil still costing more than $90 per barrel, Black Book continues to see ramifications manifest in the auction lanes. According to the newest installment of Market Insights, Black Book reported wholesale values softened just 0.08% during the week […] [Read More]

automotiveMastermind, part of S&P Global Mobility and a provider of predictive analytics and marketing automation for dealerships, has introduced an application program interface designed to allow OEMs, dealer groups, digital retailers and customer data platforms to integrate with Mastermind, aM’s automated sales and marketing platform. aM said the API will enable industry partners to directly […] [Read More]

Digital wholesale marketplace CarOffer, a subsidiary of CarGurus, announced an updated version of its platform that it said has “significantly improved” several logistical features. CarOffer said with its version 2.0, a majority of vehicles will receive a mechanical inspection, and transport time has been reduced to an average of seven days. “Within a few months […] [Read More]

America’s cars are going gray — and not just because they’re getting older. The latest study of car colors from iSeeCars shows gray rising in popularity, passing silver for third in market share behind perennial favorites white and black. According to the study, which analyzed more than 10 million 1- to 5-year-old used cars sold […] [Read More]

Edmunds combed through its third-quarter vehicle transaction data and discovered the average annual percentage rate (APR) for both new and used vehicles financed during Q3 continued to climb. And analysts spotted a new record for average down payments for used vehicles. Edmunds reported on Tuesday that new-vehicle APR ticked up three percentage points since last […] [Read More]